3rd Dec 2018 10:10
LONDON (Alliance News) - Bain Capital confirmed Monday it will not make an offer for FTSE 250-listed RPC Group PLC.
The US private equity firm said it will not make an offer for the London-listed plastics product maker following discussions with the board of RPC.
Earlier on Monday, RPC said takeover talks with Apollo Global Management remain ongoing but it has "mutually agreed to terminate discussions" with Bain Capital.
Both Apollo and Bain Capital had until 1700 GMT on Monday to either announce a firm intention to make an offer, or walk away from the deal.
RPC requested an extension to the deadline for Apollo, which now has until December 21 to make a firm offer.
RPC said it will make a further announcement "when appropriate" and stressed "there can be no certainty" any offer will be made, nor the terms on which an offer might be made.
In September, RPC confirmed that both Apollo and Bain Capital had approached it with a potential deal to buy the firm.
The original deadline for Apollo and Bain Capital to either announce a firm intention to make an offer or step away from a deal under UK takeover rules was October 8.
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